Technician
Long

AUDUSD: Intraday Long at Range Support

FX:AUDUSD   Australian Dollar/U.S. Dollar
1391 15 15
Update: Targets reached without triggering entry... Trade cancelled.
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A very simple trade, I am going to long the pair if i see another dip lower, with a tight stop just below the support of the sideways range. (In this specific trade i will not cancel the trade if we reach first target before triggering entry, as its very close to current price, i will only cancel the trade if price reaches near the second target without triggering entry).

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Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
1) If 90 percent of first target is reached I move stop loss to breakeven.
2) If 90 percent of first target is reached without triggering entry I cancel the trade.
3) Remember: Losing is a main part of the game

Related Ideas

IvanLabrie PRO
2 years ago
A return to the mean strategy...I dig.
Reply
IvanLabrie PRO IvanLabrie
2 years ago
snapshot
0.8744-0.8782 should be fairly easy in a day. Daily 11 period ATR is 94 pips.
Reply
Technician TOP IvanLabrie
2 years ago
Unless it breaks down and resume bearish trend , lets hope its not the case
Reply
IvanLabrie PRO Technician
2 years ago
I give it a week...look at that consolidation, I'll enter short on a clean break below and completely outside on the daily, and the weekly close without retesting that line or its whereabouts. :) Some bullish news they say too...
Reply
IvanLabrie PRO IvanLabrie
2 years ago
snapshot
Looks pretty bearish if it confirms...
Reply
Technician TOP IvanLabrie
2 years ago
I am looking for a minor reactive bounce of this support for now.. nothing more.
Reply
IvanLabrie PRO Technician
2 years ago
Yup, was going about the incoming moves...I drew a line that shows the most frequent price, it should hit that long target I think. :)
Reply
Technician TOP IvanLabrie
2 years ago
RBA Rate Statement in 30 mins, hope it wont screw it
+1 Reply
IvanLabrie PRO Technician
2 years ago
Now would be a good time to learn how to use those new fancy alerts :D
Reply
Yasafoo Technician
2 years ago
I took profit at 0.8725.tnx
Reply
vlad.adrian PRO
2 years ago
The interesting chart is the daily. I think we are close to a big reversal. No confirmation yet
Reply
IvanLabrie PRO vlad.adrian
2 years ago
Seems like we all agree...nice long hit here. I'm waiting for the big move down. Gonna take a while.
Reply
Elogos
2 years ago
90% of 2nd target reached without entry.
Reply
Technician TOP
2 years ago
Missed this trade
Reply
Technician TOP
2 years ago
Update: Targets reached without triggering entry... Trade cancelled.
Reply
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